Fosun completes Roc Oil acquisition

Offshore staff

HONG KONGFosun International Ltd.’s wholly owned subsidiary, Transcendent Resources Ltd., has closed the acquisition of Roc Oil Co. Ltd. (ROC), acquiring 92.6% of ROC’s outstanding share capital.

ROC is an Australian independent upstream oil and gas exploration, development, and production company with a significant presence in the China, Malaysia, Australia, and UK North Sea regions. China’s production accounts for 72% of ROC’s total production. ROC’s current oil and natural gas assets include a portfolio of exploration and development assets. Producing fields include China’s Bohai Bay Z oil field, South China Sea’s K oil field, Malaysia’s PSC oil field, UK’s North Sea B&E oil field, and Australia’s H oil field; fields under exploration and appraisal include Malaysia’s RSC project, China’s Bohai Bay field. Last but not least are South Sea’s eighth east oil field and Myanmar’s offshore oil field.

On Nov. 13, Zhao Bin, president of Fosun Energy Group, was elected by ROC's board of directors to be the chairman of the board. On Nov. 10, Dr. Yuanlin Jiang, Yao Xu, and Qunbin Wang were appointed as non-executive directors of ROC.

11/18/2014

 

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